Netflix implements new streaming restrictions (updated)

Bad news for Netflix customers on streaming-only plans. Following the footsteps of its price increase, the company has decided to add on a new restriction to its video on-demand service. It has been reported that as of last weekend, streaming customers will have to fork out an additional $7.99 a month for unlimited streaming.

Previously, streaming-only accounts could be used to stream videos from an unlimited amount of devices for no additional charges , while those that had DVD plans could stream on a number of devices equal to the amount of DVDs they can rent. Well now, if users with streaming-only accounts want to stream content onto more than one device, they’ll need t o sign up for an Unlimited Streaming account at $7.99 a month or add additional DVDs to your account.

It sure looks like Netflix is really trying to squeeze all the money it can get from its existing customers before they change their mind and look for an alternative service. Just when the company was doing so well in combating piracy. What do you think of the new unlimited streaming fees? Is it justified?

Update (6.07 PM): It turns out that the previous streaming restrictions was an error over the weekend. Netflix has announced that all accounts will be able to stream at least two concurrent streams – so if you want more than two simultaneous streams, you’ll need to fork out for additional DVDs or an unlimited streaming account. Read more.